PositiveID Corp (OTCMKTS:PSID) Taking A Southern Direction

[[tagnumber 0]][[tagnumber 1]]After some climbing in the second half of June we saw PositiveID Corp (OTCMKTS:PSID) descend down the charts and hover between the $0.025 and $0.030 per share mark for quite some time, until finally heading up again in the end of last week.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The climb came after a press release announcing a new acquisition was published. [[tagnumber 6]]PSID[[tagnumber 7]] stated that they have come to an agreement to acquire Thermomedics, Inc., a manufacturer of the Caregiver®, a non–contact clinical–grade thermometer approved by the FDA from Sanomedics International Holdings (OTCMKTS:SIMHD).[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And while [[tagnumber 6]]PSID’s[[tagnumber 7]] balance sheet isn’t very pretty, [[tagnumber 6]]SIMHD’s[[tagnumber 7]] doesn’t do any better. In fact, it is worse.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 19]] [[tagnumber 20]]cash: $92 thousand[[tagnumber 21]] [[tagnumber 20]]current assets: $228 thousand[[tagnumber 21]] [[tagnumber 20]]current liabilities: $5.38 million[[tagnumber 21]] [[tagnumber 20]]quarterly revenues: $140 thousand[[tagnumber 21]] [[tagnumber 20]]quarterly net loss: $852 thousand[[tagnumber 21]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And while we don’t see how the newly announced acquisition can improve [[tagnumber 6]]PSID’s[[tagnumber 7]] balance sheet we do know that the company will pay $250 thousand in cash and a further $500 thousand in shares of preferred stock in order to acquire Thermomedics, Inc.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This means that it’s no surprise that [[tagnumber 6]]PSID’s[[tagnumber 7]] upward run was short–lived. Yesterday the company stock lost 7.16% of its value and closed the session with a price of $0.035. A total of 8.26 million shares were traded and generated $289 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session isn’t any better and [[tagnumber 6]]PSID[[tagnumber 7]] is already 9.43% down as of the writing of this article. Things might get even worse in light of the recent promotional effort, so it would be a good idea to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]